ホテル企業における経営戦略の新局面 : 企業合併の国際的展開(21世紀を展望する産業・経営・会計(Part I))
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概要
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The past few years have brought a spate of large-scale mergers in the hotel industry. One of the biggest was the 1997 acquisition of ITT Sheraton by Phoenix-based Starwood Hotels & Resorts, previously a REIT enterprise. This merger was ranked fourth in terms of purchase price among Fortune Top 1000 companies involved in M&A activity during 1997. In Japan, among the companies with a strong interest in hotels, the Seibu Saison Group sold Intercontinental Hotels to UK Company Bass in February 1998. While both these mergers involved the purchase of hotels, the background is quite different in each case. This paper analyzes the background and objectives of each acquisition. Firstly, since hotels represent a service industry, we look at the defining characteristics of the service industry. We then examine the background to M&A and the perceived advantages for the companies involved, specifically the 'synergy effect.' Finally, we present some conclusions about the synergy effect anticipated in both the above cases, as well as the respective backgrounds.
- 日本大学の論文
- 1999-03-31